Is the IMF bullish on Asia and China?

On October 15, the International Monetary Fund (IMF) pointed out in the "Regional Economic Outlook: October 2017 Update" for Asia and the PacificThe economic growth forecast for Asia and the Pacific this year and next year is5%, Asia and China will continue to lead global growth with strong growth.

The report emphasizesStrong consumption and investment in Asia, as well as better-than-expected external demand, have contributed to the pick-up。At the same time, policymakers in economies will continue to accelerate the pace of reforms, as risks remain in China, including China's rapid credit growth, rising protectionism, and geopolitical tensions.

Rhee Changyong, director of the IMF's Asia-Pacific Department, said that Asia's economic growth momentum remains strong, so it is in a good position. Favourable factors in the region provide opportunities for the implementation of structural reforms and the resolution of vulnerabilities.

At present, the financial situation in Asia is also relatively favorable, thanks to the large inflow of capital in the first half of this year. Although the outlook for economic growth has been raised, this year's inflation rate has been lowered by one percentage point compared to April this year, mainly due to the appreciation of commodities and the local currency.

However, growth in Asia has been strong but uneven, with the overall upturn in the region attributable to stronger-than-expected growth in China, Japan, South Korea and ASEAN, which helped offset weaker growth prospects in Australia and India. China, in particular, as the largest economy in the region, is expected to achieve economic growth this year, next year.

The upward revision to China's economic growth this year reflects the country's continued strong infrastructure spending in the first half of the year and the resilience of the real estate sector. China has the potential to sustain strong economic growth over the next three to five years.

The report points out that Asia's economic growth faces both risks and challenges in the future. On the positive side, China's economic growth and Japan's cyclical recovery are likely to be stronger and more durable than expected, benefiting from increased confidence and more favourable market conditions. However, an abrupt tightening of global financial conditions could trigger damaging capital outflows, which in particular affect emerging and developing Asian economies, undermining their growth prospects.

Asian economies, because of their openness and integration into global value chains, are particularly vulnerable to protectionism, and a global shift to inward-looking policies could dampen Asian exports and reduce foreign direct investment in the region.

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Recently, the International Monetary Organization (IMF) released the latest World Economic Outlook report, once again raising China's economic growth forecast for this year and next. The IMF expects China's economic growth rate in 2017 to be in 2018, respectively, compared with its forecast in July this year.

According to the report, global GDP growth forecasts for 2017 and 2018 have been revised upwards due to the improved outlook for China and the United States, and global GDP is expected to grow in 2017 and 2018, respectively7%, which was expected to grow and. In addition, the IMF also raised its economic growth forecasts for the United States, Japan and Europe.

Obstfeld, chief economist and director of the research department of the IMF, said that the global economic recovery continues to accelerate, and countries should seize the opportunity of this economic recovery and take advantage of the current favorable environment to further tap the growth potential. He also called on countries to strengthen global cooperation to enhance the development of the global ** system, improve financial regulation, and strengthen the global financial safety net.

The report shows that the IMO is optimistic about China's future economic growth.